Caetano: Without pension reform, taxes will increase.
"Spending levels will rise significantly and will have to be adjusted somehow. If there are no adjustments to Social Security, either the tax burden increases or spending in other areas is sacrificed," says Marcelo Caetano, Secretary of Social Security in the interim government; according to him, the issue is mathematical, not ideological.
247 - Either the government approves the pension reform or it raises taxes. This is according to Marcelo Caetano, Secretary of Social Security in the interim government, in... Interview with Julianna Sofia and Laís Alegretti.
He also says that the issue is mathematical – not ideological.
"Spending levels will rise significantly and will have to be adjusted somehow. If we don't adjust the pension system, we either have to increase the tax burden or sacrifice spending in other areas," he says.
According to the secretary, today the country has a ratio of 1 elderly person for every 10 people between 15 and 64 years old. In 2060, it will be 2 to 5. "The discussion of the reform today is different from a discussion that existed 20 or even 10 years ago."